Flex LNG signs $550m of financing for four LNG carriers
Hamilton, Bermuda April 29, 2019 Flex LNG LTD (OSE:FLNG) (“Flex LNG” or the “Company”) is pleased to announce that it has entered into a sale-charterback transaction with Hyundai Glovis Co. Ltd. (“Hyundai Glovis”) for the vessels Flex Endeavour and Flex Enterprise. Under the agreement, Flex LNG will sell the vessels for a gross consideration of $420m, with a net consideration of $300m adjusted for a non-amortizing and non-interest bearing seller’s credit of $120m in total. Flex Endeavour and Flex Enterprise will be charted back on a time-charter basis to subsidiaries of Flex LNG